4) Assume there is a decrease in costs for the firm due to a new reserve of a key resource being discovered. Explain what will happen in the firm and the market. What will happen to equilibrium price and quantity for the firm and market. What happens to the number of firms in the market? Be sure to show the results on the graph as well as explain. Be sure to identify the initial equilibrium. (10 points)

6)Assume the firm has just released a large advertising campaign that turns out to be highly successful. Assume the costs have already been included in the analysis. Explain what happens to the firm. Be sure to talk about equilibrium price and quantity for the firm, the number of firms in the market, and the firm profits after the campaign and in the long run. Identify the initial equilibrium. (10 points)